The cryptocurrency market had a lackluster start to Monday's trading session with the global market cap recording minimal growth of nearly zero at US$1.17 trillion. Bitcoin (BTC) was slightly up by 0.4%, with its trading volume increasing by 4%. However, there was a high amount of bear activity, as indicated by the Moving Average Convergence Divergence (MACD) indicator. BTC was trading at US$27,681 as of press time and posed a risk of breaking below US$27,000.
Ethereum (ETH) dropped to US$1,856 (-0.4%) and recorded a weekly loss of 11%. Altcoins followed with negative results, with 0 to 2% decreases noted across cardano (ADA), dogecoin (DOGE), solana (SOL), and polymergon (POLY). The only alt now entering bullish territory was the STX token, up 3.3%. Its 24% highest trading volume was making it to trade at US$0.73.
The altcoin gaining the most attention today was Good Gensler, a token that, despite a 54% decrease in trading volume, was still able to produce an 11% daily gain and an outstanding 2000% gain for the week. Overall, the current market trends remain bearish - with many digital assets undergoing a corrective phase.
James Wilson
- 2023-04-24
Monday's Crypto Market Flat With Bear Activity
The cryptocurrency market had a flat start to trading Monday with global market cap recording zero growth and Bitcoin (BTC) up by 0.4%. Many altcoins, however, witnessed decreases along with Ethereum (ETH) dropping to US$1,856 (-0.4%). The lone alt making gains was the STX token, up 3.3%.
